CLIENT
-
Executors
CLIENT INDUSTRY
-
Holiday Park
SERVICES PROVIDED
-
Investment (Disposal)
LOCATION
- Lymington
SIZE/VALUE
- Guide Price £2.9 million
DIVISIONS INVOLVED
- Leisure and Trade
DATE
- June 2021
Thanks you for all of your help in getting this through. You came across seriously professional throughout, something to be appreciated and savoured in this modern era of business evolution, and my clients and I really appreciated your hard work and commitment.
Solicitor to The Executors
CHALLENGE
Downton Holiday Park had been in the ownership of the same family for over 72 years, but following the death of the owner the Executors of the Estate instructed Savills to dispose of the property on their behalf.
SOLUTION
Savills recommended that the property be offered for sale on the open market. High quality bespoke sale particulars were produced, together with an online data room to present further information about the property and business to interested parties. Downton Holiday Park was launched to the market at the end of January 2021, with details being circulated to parties registered on Savills mailing list. Additional interest was generated through PR and by advertising the property on Savills and other relevant websites.
RESULTS
The property achieved a good level of interest, and as this had been anticipated a closing date for bids was set at the outset. Savills management of the sale process created a competitive bidding platform which resulted in a number of bids being received by the bid deadline, several of which were above the guide price. The sale completed in June 2021 to Shorefield Holidays Limited for an undisclosed sum.